Tbh, reddit did win. They’re set to become a highly commercialized social media platform, focused on maximizing engagement through generic content.
They may lose dedicated eccentrics looking for a welcoming place to geek out over shit in their niche community. They’ll also lose users who value long in-depth discussions with complete internet strangers.
But, Reddit doesn’t want our need those people. As long as they have the generic subs (like r/funny, r/pics) and the outrage groups (like r/aita, r/publicfreakout), they’ll keep getting views and sweet sweet ad money. And that’s all Reddit cares about.